Kernel Secures Binance Labs Funding to Redefine Restaking on BNB Chain
Introduction
In an exciting development, Kernel has secured funding from Binance Labs, solidifying its position as a core restaking infrastructure on the BNB Chain. This significant milestone marks a pivotal moment in transforming BNB’s economic security into programmable trust, empowering various entities within the crypto ecosystem.
Funding Details
Kernel has successfully raised a total of 10 million funds across multiple rounds, with the support and backing of a diverse group of investors, including:
- SCB Limited
- Laser Digital
- Bankless Ventures
- Hypersphere
- Cypher Capital
- Draper Dragon
- ArkStream Capital
- DACM
- HTX Ventures
- Avid VC
- GSR
- Cluster Capital
- Longhash Ventures
- Via BTC
- Side Door Ventures
- NOIA
- DWF Labs
The Journey Ahead
Kernel is enthusiastic about continuing its journey and pushing the boundaries of what restaking can achieve. By introducing innovative approaches to restaking, Kernel aims to revolutionize the landscape of decentralized, scalable trust on the BNB Chain and beyond.
Kernel’s Achievements
Since its inception, Kernel has accomplished several significant milestones, including:
- $1 Billion+ Total Value Locked (TVL) with Kelp & Gain on Ethereum
- 10+ Layer-2 Integrations for enhanced scalability
- 120+ DeFi Integrations fueling rapid growth
- 300,000+ Unique Addresses demonstrating trust and adoption
Visionary Ecosystem
Kernel is part of a visionary ecosystem that powers the future of DeFi through three flagship products:
- Kernel: A cross-chain restaking powerhouse on the BNB Chain, with a mainnet launch on the horizon
- Kelp: Offering liquid restaking on Ethereum with soaring rsETH adoption
- Gain: Providing tokenized yields across DeFi, CeDeFi, and Real-World Assets (RWAs)
Together, these solutions unlock over $100 billion in opportunities across Restaking, DeFi, CeDeFi, and RWAs.
The $KERNEL Token
The $KERNEL token aims to unify governance and incentives across Kelp, Kernel, and Gain, rewarding early supporters and fostering ecosystem growth. Kernel’s plans include launching on the BNB Chain using BNB Liquid Staking Tokens (LSTs) and incorporating BTC and its derivatives as restaked economic security.
Expansion Plans
Kernel intends to expand to additional L1s, offering robust economic security and a foundation for innovative applications. By integrating native and liquid staking tokens across various assets, Kernel enhances their utility and capital efficiency, creating a shared economic security ecosystem that benefits developers and users alike.
Testimonials
According to Alex Odagiu, Investment Director at Binance Labs, Kernel exemplifies meaningful technology that advances the ecosystem. Amitej G., Co-Founder of Kernel, expresses gratitude for Binance Labs’ support in building a more secure, scalable, and utility-rich restaking and DeFi ecosystem on the BNB Chain.
Join the Journey
Kernel invites users to follow their journey on Twitter (@KelpDAO & @KernelDAO) and through Telegram and Discord.
About Kernel
Kernel is at the forefront of pioneering restaking on the BNB Chain, aiming to provide decentralized shared security and drive innovation and growth across the ecosystem. With a rapidly expanding ecosystem of projects, Kernel empowers developers to build more efficiently and users to maximize rewards on their assets.
For more information, please contact:
Amitej Gajjala
Founder at Kernel
marketing@kelpdao.xyzThis article was originally published on Chainwire.